5 questions September

1) My funds in excess of the sufficiency threshold, withdrawn for improving housing conditions, returned to the UAPF. Why could this happen?

The return of a one-time pension payment occurs if the recipient has not provided the authorized operator-JSC "Housing Construction Savings Bank" Otbasy Bank " - with documents confirming its use, and the money remained unclaimed within 45 days from the date of its receipt to a special account. The refund is made automatically. The remaining money on the special account is also subject to refund, if it was not used in full.

After the withdrawn pension savings of the applicant are returned to the UAPF, within two days from the date of their receipt, they are again credited to the individual pension account and displayed in the statement. If, when withdrawing pension savings, the recipient decided to immediately pay individual income tax, then he will return back to the individual pension account together with the unused payment. If only part of the payment is subject to refund, income tax in the amount of 10% of the refunded amount will be returned to the individual pension account. That is, the depositor does not need to additionally submit any applications and documents.

Subsequently, the depositor has the right to submit an application to the authorized operator for withdrawal of funds beyond the threshold of sufficiency of pension savings an unlimited number of times.

2) Unfortunately, the pandemic affected our family, we lost our father. Can I inherit his retirement savings?

The money accumulated in individual pension accounts is the property of the depositor (recipient) and is stored in the Fund indefinitely, even in the event of his death.

In accordance with articles 31, 32, 33 of the Law of the Republic of Kazakhstan "On Pension Provision in the Republic of Kazakhstan", in the event of the death of a person who has pension savings at the expense of mandatory, mandatory professional and voluntary pension contributions, they are inherited in accordance with the procedure established by the legislation of the Republic of Kazakhstan.

Inheritance of pension savings is carried out by will or by law. When there is no will or does not determine the fate of the entire inheritance, as well as in other cases established by civil law, inheritance by law takes place.

According to the Civil Code of the Republic of Kazakhstan, in order to acquire an inheritance, the heir must accept it by submitting an application for acceptance of the inheritance or an application for issuing a certificate of inheritance right to a notary or an official authorized in accordance with the law to issue a certificate of inheritance right to an official. The inheritance must be accepted within six months from the date of the opening of the inheritance, i.e. within six months from the date of the testator's death.

Also, in accordance with the provisions of paragraph 5 of Article 50 of the above-mentioned Law, in the event of the death of the recipient, as well as a person who has pension savings and has not reached the generally established retirement age, his family or the person who carried out the burial, the UAPF is paid a one-time payment for burial within the amount of 52.4 times the monthly calculation index established for the corresponding financial year by the law on the republican budget, but no more than the funds available on the individual pension account.

If the balance of pension savings on the recipient's individual pension account after making a one-time payment for burial amounts to an amount not exceeding the amount of the minimum pension established for the corresponding financial year by the law on the republican budget, this balance is paid as a payment for burial.

It should be noted that the current legislation does not provide for a limitation on the period of applying to the UAPF for a one-time payment for burial, in this connection, payment for burial when providing documents provided for by law can be carried out even after several years after the death of a person who has pension savings in the UAPF.

3) At the moment I have a problem with employment, but I would like to have a retirement experience. How to do it?

Proof of work experience is participation in the accumulative pension system, that is, monthly mandatory pension contributions to an individual pension account. Citizens who are temporarily unemployed or have a non-permanent income can continue their participation in the NPS by paying a single aggregate payment (ESP). The payment replaces 4 mandatory payments:

- individual income tax;

- mandatory pension contribution to the UAPF;

- mandatory social contribution to the State Social Insurance Fund (GFSS);

- social contribution to the Social Health Insurance Fund (FSMS).

Thus, the ESP makes it possible to pay all payments on simplified terms and participate in social security systems, compulsory social health insurance and get access to medical services, with the right to choose a medical institution. Also, a participant of the system can receive social benefits in cases of disability, loss of work, loss of a breadwinner, pregnancy and childbirth, adoption of a child, child care.

In addition to replenishing their pension savings in the UAPF, it is possible for ESP payers to receive a basic pension payment in the future, depending on the length of participation in the pension system.

The ESP is subject to payment in the total amount through second-tier banks or organizations that carry out certain types of banking operations (for example, through Kazpost JSC). Tax reporting is not provided by ESP payers. Registration (notification) of the start of activity and an application for suspension (termination) of activity are not required. An individual is recognized as a payer of the ESP from the day on which its payment was made. At the same time, the ESP can be paid for the current and subsequent months of the calendar year. But you must specify the month for which the payment is made. This is important for accounting for work experience.

Termination of payment means that the individual is no longer a payer of the ESP.

4) I work in a "harmful production", does the employer have to transfer 10% of my mandatory pension contributions plus another 5% of mandatory professional pension contributions at his own expense on a monthly basis? How can I control their enumeration?

Mandatory occupational pension contributions (OPV) - money transferred by agents at their own expense to the unified accumulative pension fund in favor of employees engaged in work with harmful working conditions, whose professions are provided for by the list of productions, works, professions of employees.

The CPT is paid no later than the 25th day of the month following the month of income payment, unless your employer is an economic entity to which a special tax regime is applied in accordance with the procedure and terms provided for by the tax legislation of the Republic of Kazakhstan. The tax authorities control the transfer of the PPI, and if the employer does not transfer funds to your account in a timely manner, the tax authorities collect funds from the employer that are subject to transfer to your account in the UAPF with the accrued penalty for each day of delay.

You can monitor the status of your retirement accounts, both for mandatory and mandatory professional pension contributions. For example, you can personally contact directly any of the UAPF offices. There you can find out about the status of the account, as well as conclude an additional agreement on the choice of the method of obtaining information. The most convenient way is to provide online information-through your personal account or the UAPF mobile application. By choosing this method, you will be able to control your individual retirement account at any time convenient for you. If you have an electronic digital signature, then you can check your statement and choose the method of informing without visiting the Fund.

5) If I work under a contract, do I have to pay the mandatory pension contributions (OPV) myself?

If one of the parties to the GPH contract is a tax agent (legal entities, sole proprietors and persons engaged in private practice), they make mandatory pension contributions from income paid to freelancers.

If you have entered into a GPH contract as an individual who is not a tax agent, then paying the OPV is your right, not your obligation. That is, you can, at your discretion, carry out OPV in your favor through second-tier banks or Kazpost to the details of the State Corporation "Government for Citizens" for their further transfer to an individual pension account in the UAPF.

It should be noted that if you use this right, it will not only increase the amount of pension savings, but, thereby, provide a higher amount of the basic pension payment, since its calculation takes into account the length of service and the length of participation in the accumulative pension system.